While it’s been advised that the federal government of Nigeria step up in its plan to ensure that it stabilises the dwindling Nigeria economy which according to the recent statistics is on a decline.
The outbreak of the novel virus, Covid-19 pandemic has seen to the decline of many economic of different nations across the world as many businesses has been forced to close down due to the absence of man power and a disruption of business activities all which are necessary to growing the Gross Domestic Income of a nation. Many nation of the world has resorted to borrowing from other nations to stabilize its economy as well as execute some of its projects, keeping the day to day running of its administration afloat. While other nations have resorted to enacting strong economic reforms and Policies to ensure that it curtail the rising cases of an economic meltdown.
While the Nigerian government has not been left out of this case as it has struggle to stay afloat keeping it economic going without it dipping any further than the damages already done.
Some of the economic policies and reforms taken by the Muhammadu Buhari led administration in Nigeria to combat the unfortunate cases of the possibility of an economic meltdown is the removal on petroleum subsidy which places the right to determine the sole prices of petroleum into the hands of the markers and which also saw to an increase in the price of fuel. Adding to these, the federal government also saw to it that the electricity tariff was also increased few hours after increasing that of the petroleum.
The resultant effect of this was the hike in several goods And service in the nation starting from the manufacturing industry to all other industries in the nation as they have had to increase their selling prices as the new economic realities has seen their cost price increases while the masses who is at the lowest level of the food chain or stratum are bearing the brunt of the harsh economic reforms and policies from the federal government of Nigeria under the leadership of President Muhammadu Buhari.
While the people has continued to feel the impact and harsh realities brought into existence by the outbreak of covid-19 globally which includes Nigeria, the federal government a part of its initiative to ensure that adequate measures are put in place to reduce the effect of covid-19 on them, the Former Governor of Bayelsa state and Minister of State for Petroleum Resources, Timipre Sylva has stated that the federal government of Nigeria under the leadership of President Muhammadu Buhari has restored to as from October start to convert the cars and generators of the Nigerian populace to run on gas.
This he said will be done free of charge for all inhabitants of Nigeria to curtail the impact of the increase in pump price of petroleum, this was revealed by the minister on the NTA Good Morning program which was monitored by pressmen.
Based on what he said, cars and other autos are capable of working on both gas and petroleum.
According to the minister stated that plan of the federal government is to reduce to the barest minimum the cases of carbon emissions and also reduce drastically the demand for Petroleum which is otherwise known as Premium Motor spirit.
Furthermore Sylva explained that there’s a need for an alternative to petroleum and that the gas been introduced to petroleum sill definitely be cheaper and easily affordable than the subsidized rate of the Premium Motor Spirit. He added that the message of the federal government to Nigerians is to ensure that they convert their vehicles for free.
He also stated that when this is done, it will take only imply one thing which is that cars will be able to run on either gas or petroleum and also that the federal government will ensure that it’s done for free.
The minister also added that this plan is put in place to ensure that there’s an alternative for the Nigerian populace as it’s like introducing a toll gate on the roads.
When you introduce a tollgate, you are expected and required by law to also create an alternative. So, we are also creating that alternative so that you can go to buy gas.”
He also added that the federal government of Nigeria has earlier launched a more familiar scheme with tricycles which are for commercial purposes in Port Harcourt .He said the initiative would be extended to small capacity generators colloquially known as ‘I better pass my neighbour’.
In my opinion it’s indeed a laudable initiative from the federal government to have a second thought about the welfare and social wellbeing of its people, it is also important that while it makes these various plans and initiative, they must be tailored towards the practical solutions and template.
The decision of the federal government of Nigeria as explained by the Minister of State for Petroleum Resources, Timipre Sylva by all indications seem like another white elephant project which the federal government does not have the required financial resources and expertise to execute.
The Federal Government of Nigeria must instead turn away from initiative like this and focus more on projects that will have direct impact on the lives of the people. There are thousands of small and medium scale enterprises which are currently battling the harsh economic realities and which also need the federal government assistance. This should be the primary focus of the Nigerian Government and not some eye catching projects which the nation does not have the required manpower and financial wits to complete.
By Marcus Amudipe